Iraqi development fund at $180 billion A report from the United Nations secretary general said the amount of capital deposited in the UN’s Development Fund for Iraq, as of the end of 2008, was some $180 billion. The fund, created after the UN halted its oil-for-food program in 2003, acquires most of its revenue from Iraqi hydrocarbon exports, accounting for some $165 billion of the fund’s total capital. A further $10.4 billion was deposited into the fund from the balance of the oil-for food program, and $1.5 billion came from the proceeds of frozen assets. The fund is managed by the International Advisory Board (IAB), which is comprised of members from the UN, the International Monetary Fund, the director general of the Arab Fund for Social and Economic Development, the World Bank and the Iraqi government. The IAB and the UN secretary general have declared the Committee of Financial Experts,
